Logistics Automation Market worth USD 101.66 Billion by 2024

Zion Market Research has published a new report titled “Logistics Automation Market by Component (Warehouse & Storage Management and Transportation Management) and for Verticals (Logistics & Transportation, Retail, Manufacturing, Oil & Gas, Healthcare, Automotive, Aerospace & Defense, Food & Beverage, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global logistics automation market was valued at approximately USD 45.70 Billion in 2017 and is expected to reach approximately USD 101.66 Billion by 2024, growing at a CAGR of around 12.1% between 2018 and 2024.

The term logistics automation can be used to describe the process of automating the storage and distribution of goods in a warehouse and transportation, using robots and centrally managed computer systems. Generally, this alludes to activities inside a warehouse or distribution center, with more extensive undertakings embraced by supply chain management systems and enterprise resource planning systems. Logistics automation frameworks can capably supplement the facilities provided by these higher level computer systems.

One of the significant drivers of the logistics automation market growth is increasing adoption of big data in automated logistics technologies. Large-scale data analysis is utilized to produce reports for fast decision-making, reduce inconsistencies, and enable better customer management. Cloud computing technology will further enhance the big data analysis and the connected device powered by the big data applications will lead to an increase in productivity, better asset tracking, increase accessibility, better interaction between shippers and carriers, and less risk. Increasing use of IoT platform in logistics and supply chain management is further boosting the growth of logistics automation market across the globe. The IoT platform provides various features such as real-time fleet management, smart labels, predictive maintenance, storage conditions control, and more. Furthermore, the growing popularity of Logistics 4.0 in transportation and warehousing drives the growth of the global logistics automation market. Logistics 4.0 has the potential to automate the value stream that consists of autonomous vehicles (driverless cars) and elimination of warehouse operation in favor of predictive deliveries with zero-lead time integration. Moreover, high penetration of robotics in warehouse management propels the growth of the global logistics automation market. The robots follow a set of defined pathways, utilizing route marks from labels on the ground. Different systems utilize ultrasonic sensors such as those in automotive parking. However, high capital can restrain the growth of the global logistics automation market.

North America is anticipated to have the largest market share in the logistics automation market during the forecast period. Numerous companies in North America are adopting logistics automation solutions to improve supply chain operations. The region is expected to maintain its dominance in the global logistics automation market and this is due to frequent product innovations obtained from R&D and adoption of new technologies. Various warehouse and logistics companies are adopting advanced analytics in dimensioning and weighing in order to simplify their operations.

The Asia Pacific is expected to have the highest growth rate in the global logistics automation market during the forecast period. The reason behind the growth is large-scale industrialization in emerging economies such as India and China. With a huge client base and enhanced geographic zones, the region is expected to exhibit a strong growth in the logistics automation market. High adoption of the internet of things in logistics automation solutions in the retail industry has been propelling the growth of logistics automation market in the Asia Pacific region.

Europe is anticipated to witness considerable growth in the logistics automation market in the forecast period and this is mainly due to the growing adoption of robotics and automation in the material handling. Increasing demand for warehouses in the European region due to the rapid growth in e-commerce and retail industries drives the logistics automation market in Europe. Moreover, high labor costs and special attention to the working environment at the factory have encouraged the adoption of advanced automation in the European warehouses.

Latin America is expected to witness significant growth in the logistics automation market in the forecast period. Increasing demand for Infrastructure as a Software (IaaS) is one of the major factors that help in the growth of logistics automation market in the Latin America region. Increasing competition among the leading players in order to provide efficient services will encourage enterprises to adopt cloud computing in warehousing and transportation sectors that provide quicker time to transfer goods. With the increasing trend of digitization in every aspect of the business, the various organizations in the Middle East are adopting automation solutions in their processes.

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